Building the Business Case for Supply Chain Risk Management

Cerasis

But there are some risks. Do you think that your supply chain management is good enough for this market? That’s when it all gets extremely complicated, but one thing remains crystal clear: supply chain risk management is profoundly important for businesses to grow and expand. Without a doubt, managing supply chain is nothing but easy. WHITE PAPER] The Top Supply Chain Trends that Will Impact Supply Chain Management in 2018.

Be Prepared: Improving Supplier Risk Management In Your Business

ivalua

Supply chain management and procurement sit poised on the frontlines of managing global supply risks for their brands. That’s why companies are always looking for new ways to streamline and increase efficiencies while also mitigating the risk within their supply chain. From inventory management to customer shipping, leave nothing to chance when it comes to supply chain risks. Understanding Supplier Risk Management.

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Supply Chain Risk Management: Could You Face a Category 4 Supply Chain Disaster?

Kinaxis

states, obvious disruptions to supply chains and supply chain risk management were a given. The state of Florida “requires motor fuel (1) service stations near interstate highways or evacuation routes, (2) terminals and (3) wholesalers to have transfer switches and appropriate wiring to transfer the electrical load from a utility to an alternate generated power sources in the event of a power failure. Supply chain risk management

Coronavirus Increases Supply Chain Risk Management Priority

Enterra Insights

For years I’ve been writing about the importance of supply chain risk management and how it’s often given short shrift in business discussions. Multi-dimensional risk planning. Today, ears are no longer deaf to the topic of supply chain risk management. ” He recommends supply chain managers take the following three steps: “First and foremost, take care of your people, including employees and customers. Risk management.

Your supply chain is costing you money – Reason #5 Not having a supply chain risk management process

Kinaxis

by John Westerveld Reason #5: Not having a supply chain risk management process. Insurance is a form of risk mitigation. Yet, a surprising number of companies (while they have traditional insurance) do not have a supply chain risk management “insurance” aka a supply chain risk management process. The insurance covers what could be a million dollar risk, supply chain risk management protects against what could be a MULTI-BILLION dollar risk.

Supply Chain Risk Management and Rocket Science

Logility

I became very familiar with risk management early in my professional career. As in the aerospace industry, pushing the supply chain envelope involves increased risks that need to be analyzed and mitigated, if possible, or at least planned for. Each stretching of the envelope generates unique risks. For example, international product sourcing strategies aim to drive down per unit acquisition cost.

Time to Survive and Nexus Supplier Index: New Measures of Supply Chain Risk Management

Talking Logistics

Over the past two years, I’ve written extensively about the growing importance of supply chain risk management and supply chain mapping. See for example: Rethinking Supply Chain Risk Management. Doing Nothing on Supply Chain Risk Management. Many Companies Falling Short on Supply Chain Risk Management. In addition, new software applications are also emerging to help companies manage this process.

Cognitive Computing for Supply Chain Risk Management

Elementum

Risk management is important in a company. A company cannot possibly define its goals for the future without first analyzing and identifying possible risks, challenges, or disasters it may encounter. By executing a risk management plan, a company can assess potential critical risk that needs to be prioritized before they could cause adverse impacts on their interests.

If Multi-sourcing is a Best Practice, Why Are so Few Companies Doing It?

Logistics Viewpoints

Because of the pandemic, risk management surrounding sourcing has become top of mind. Companies need to ensure they have alternate sources of supply that can ramp up to the volumes needed. This best practice urges companies to examine not just the cost of the sourced products, but also to understand the risks associated with not multi-sourcing key components. The post If Multi-sourcing is a Best Practice, Why Are so Few Companies Doing It?

Supply Chain Risk Management: Visibility is the Key

Talking Logistics

I like to say that supply chain management is synonymous with risk management, and the risks are growing every day, everything from natural disasters to cyberattacks. Unfortunately, many companies are falling short in managing these risks effectively. I think it’s in failing to have a supply chain risk strategy,” said Phil Lavin, Development Consultant IT at Siemens Postal Parcel & Airport Logistics, in a recent episode of Talking Logistics.

Supply Chain Risk Management – 5 Approaches to Safeguard your Supply Chain

ThroughPut

What is Supply Chain Risk Management? Supply Chain Risk Management (SCRM) is defined as the process of taking those strategic steps which can help manufacturers identify, analyze, assess, and finally mitigate the risk in the end-to-end supply chain.

Supply Chain Risk Management is a Cirque Du Soleil Calibre Act!

Supply Chain Game Changer

In thinking about the show and its construct I thought about the incredible amount of risk that the performers and producers are managing. These world class performers have astonishing talent but they are also working in an environment designed to eliminate risk and maximize safety. Supply Chain Professionals, although not usually theatrical, also work in an environment in which they are managing a tremendous amount of risk. Supply Chain Risk Management.

How to implement an efficient risk management system

SupplyOn

Efficient risk management is key to making supply chains and production capacities more resilient. Efficient risk management plays a central role in meeting these challenges. Just as important is a look into the near future: Where do potential risks lie if production picks up again? How can you manage supplier capacities or help suppliers with planning when you yourself only have uncertain sales forecasts?

Risk Management: Is 2018 the Year of Living Dangerously?

Enterra Insights

Globalism has been a boon to the supply chain by expanding sourcing, opening new markets, accelerating growth and highlighting opportunities to save money. It has also always had issues: supply chain complexity; global competition; information collection challenges; and greater risk from global events including natural disasters, port closures and anti-global sentiment. ”[2] Those risks are: 1. Risks to supply-chain processes.

Cybersecurity Causing Sleepless Nights for Risk Managers, Part 2

Enterra Insights

As I noted in Part 1 of this article, supply chain risk managers have plenty on their minds to keep them up at night; but, cybersecurity risks surely cause their share of night sweats. The DPO is a leadership role which is responsible for data protection strategy, implementation and management. Ludford notes, “Human error is the primary source of data breaches.” Ask questions about their data security management program.

Global Risk Management: Balancing Prevention and Response

CH Robinson Transportfolio

Global Risk Management: Balancing Prevention and Response. Finding the right balance between risk, prevention and response will keep your supply chain running smoothly and help it recover as quickly as possible when the unavoidable happens. When developing your risk management strategy, you should consider five key areas for maximum protection. An understanding of global issues and potential risks is critical to being prepared for the unexpected issues.

Supply Chain Risk Management: How SaaS-Based, Collaborative Platforms Provide Business Continuity

Turvo

Global supply chain risk management continues to evolve and embodies a consideration of possibilities and outcomes by supply chain executives totaling in the millions. Unfortunately, supply chain risks are inevitable as we’ve experienced with pandemics, weather-related disasters, corporate fallout, economic instability, and international trade regulations. That’s where the crossroads of a tech-driven approach to solving the challenges of supply chain risk management lie.

Visibility is the Key to Supply Chain Risk Management

Abivin

In term of risk management, visibility is essential to enable both the business and supply chain to become more agile, competitive, and robust. From sources to manufacturers to clients, supply chain visibility aids brands to respond effectively to critical events and other complications. Source Achieving full visibility – Is it possible? If there is a particular catchword that continuously describes supply chain management, it is visibility.

Supply Chain: The True Game of Risk

Supply Chain Shaman

One of my favorites was the board game Risk. ” The rules have changed, and the risk increased. Designing value networks and managing what-if conditions is fundamental to managing supply chain risks. The move from global to regional supply chains increased risks. This increases risk. Historically, the risk management focus was to reduce insurance costs. What is Risk Management? Not All Risks can Be Prevented.

Big Ideas in Supply Chain | Keysight Technologies: Risk recovery after a natural disaster

Kinaxis

Despite this, the wildfires were a supply chain manager’s nightmare. A factory that was the sole source of one of Keysight Technologies’ products had been damaged in the blaze. Learn how Jason Wisler (Technology Supply Chain Manager), Ethan Hunt (NPI Supply Chain Engineering Manager) and Hock Seng Oh (Supply Chain Governance Manager): Diverted raw materials to other sites.

Japan 138

Supply Chain Risk Management: It’s Time to Update Your Contingency Plan

AFFLINK

Based on what organizations around the country have learned from the recent hurricanes in particular, there are a few key elements that you need to add to your existing risk management plans to reinforce and solidify operations. One of the most important adjustments that must be made to your supply chain risk management plan involves opportunities to not only look at the short-term effects of certain disasters, but the long-term ramifications as well.

Getting Through the COVID-19 Crisis: Advice for Supply Chain and Logistics Professionals

Talking Logistics

Global Trade Industry Trends Supply Chain Risk Management coronavirus COVID-19 Descartes Systems Group global sourcing logistics supply chainBack in December, when we were making supply chain and logistics predictions for 2020, none of us envisioned the situation the world finds itself in today due to the COVID-19 pandemic. When it’s all said and done, there will be many lessons learned, but the question right now is: How can supply chain and logistics.

Why comprehensive data consolidation is the basis for efficient risk management

SupplyOn

The success formula for efficient risk management: Tear down the silos and consolidate your data first Nowadays, everyone is preaching that data is the new oil. And yet: without data consolidation there can be no reliable results for risk assessment. The best analysis tools are worth little if they cannot be fed with all the relevant information available – tapping into all data sources, both internal and external.

Ivalua Launches Enhanced Third-Party Risk Management Capabilities

ivalua

New Risk Center adds capabilities and integrations to extend existing leadership in enabling holistic management of supplier risk. Redwood City, CA – November 12, 2019 – Ivalua, a global leader in spend management , today announced the release of an enhanced third-party risk module, called Risk Center, available as part of its latest product release. The global supply chain is a breeding ground for hidden sustainability and CSR risks.

SCRC Meeting April 27-28 on Supply Chain Risk: Building a Risk Management Capability

Supply Chain View from the Field

The theme of the general meeting will focus on a topic of great interest to supply chain professionals at every level of the organization: “ Creating a Supply Chain Risk Management Capability.”. Planning and forecasting in an increasingly complex and volatile global environment presents many management challenges, as supply chains are exposed to an many sources of disruptions and resulting financial impacts. NC State Deloitte Professor of Enterprise Risk Management.

Help Supply Chain Planners Be More Successful In These Uncertain Times

Supply Chain Shaman

Before boarding the plane, I watched a traveler pull a diet Coke from the bin and thought about the struggle to source sweetener with the rise of COV-19. As I poured the dog food into the bowl for my pups, I wondered if I was going to have to switch kibble due to the looming issues of sourcing taurine—a health additive in many pet foods. The answer is to increase modeling, evaluate sourcing strategies, and build the right push/pull decoupling points.

Rising Above Supply Chain Disruptions

DELMIA Quintiq

When a massive disruption such as a global pandemic hits, many businesses realize that their legacy planning solutions are not capable of providing the insights they need to manage such disruptions effectively. Typically, companies face two kinds of risks: Everyday risks and exceptional risks. Everyday risks are relatively easy to identify and manage. It is a necessary part of supply chain risk management.

Strategic sourcing enters a new age. Are you keeping up? (Part 2)

ivalua

In last week’s blog , I began discussing telltale signs that you have entered the new age of strategic sourcing. Leading manufacturers have proven that best-in-class strategic sourcing can create measurable and sustainable shareholder value by contributing to top line growth and bottom line profitability. You Have Imbedded a Cost Management Mindset into Every Supplier Relationship. Improving costs remains a core competency for any sourcing organization.

Direct Material Woes: Seven Steps to Take to Improve Value

Supply Chain Shaman

The opportunity is in the management of direct procurement. Progressive companies are actively working supplier development programs , risk management plans and corporate social responsibility programs in unison. Characteristics of Companies that Feel that Their Supply Chains are “Working Well” Today, the average company uses 5 technology applications to manage direct procurement. These risks in supply chain are growing unchecked. It is fall.

Florence Et Al.

Supply Chain Shaman

Plot Your Supply Chain Risk. To prepare, stratify your suppliers into strategic, single source and high volume flows. Attempt to find alternate sources from geographical areas that are not projected in the path of Florence. There are also the non-obvious risks Inland rivers are swollen. While most think of risk management as a set of supply side impacts, the issues of sensing and translating demand are even greater as risk for most companies.

Looking for a Risk Management Return? Try Your Insurer

Supply Chain @ MIT

Framing an ROI for risk management is a dilemma that occupies many supply chain managers. There is a source of help that is easily overlooked: insurance companies. The Holy Grail of supply chain risk management is how to justify an activity that only proves its worth when something goes wrong. But that’s exactly what insurance companies do: they put a value on risk.

AI + Data = Supply Chain Risk Management!

Supply Chain Game Changer

Cut to 2019, Deloitte published its newest CPO Survey where they found that 81% of chief procurement officers with fully implemented solutions in the space of Supply Chain Risk & Compliance Management aren’t satisfied with their solutions. AI + Data = Supply Chain Risk Management. It will have specific attributes that render it searchable for a reader interested in learning more about the topic of focus; in this case AI, Data, and Supply Chain Risk Management.

Innovative Approaches to Supply Chain Risk

Kinaxis

You have a supply chain risk management strategy in place. This key supplier had been identified and sure enough, you have a second source primed and ready to go. We have a problem.” The alternate source uses the same supplier in Taiwan. The problem is most companies are relatively immature when it comes to Supply Chain Risk Management. There is a natural conflict between risk mitigation and supply chain efficiency.

A Tale of Two Procurement Books: Cox’s Sourcing Portfolio Analysis (Cox) & Strategic Sourcing in the New Economy (Keith et al.)

Supply Chain View from the Field

Some of the emerging views on the “future of procurement” focus on the importance of being a strong internal consultant, the importance of building relationships, coaching suppliers, post-award contract management, and relational contracting. Andrew Cox’s new book “Sourcing Portfolio Analysis” represents the more traditional “power-based” view of procurement. These types of relationships do not exist in the world of Cox’s Sourcing Portfolio Analysis.

Is Your Supply Base Employing Slaves?

Logistics Viewpoints

How can companies insure that companies they source from are not engaged in slave labor? Procurement/Sourcing Regulations Supply Chain Risk Management Sustainability global sourcing slave labor social responsibilityMultinational companies can have thousands of Tier 1 suppliers, and in the extended multi-tier supply chain it could be hundreds to thousands of upstream suppliers.